President Yoweri Kaguta Museveni has said Uganda has built a strong economic foundation that can support faster transformation, citing sustained economic growth, rising incomes, improved infrastructure and increased access to social services.
In a message delivered on his behalf by Vice President Jessica Alupo at the National Budget Conference for the financial year 2027/28 at Speke resort Convention center in Kampala, President Museveni said Uganda’s economy has consistently recorded growth of more than five per cent despite repeated global shocks.
He said the country’s gross domestic product has risen to Shs250.4 trillion ($69.35 billion) in nominal terms, while gross national income per capita has reached $1,389, above the lower-middle-income threshold of $1,136.
President Museveni also highlighted Uganda’s performance in exports, expanded access to health, education and other social services, improved national connectivity through infrastructure development, and increased investment and competitiveness as indicators of economic progress.
He, however, said the gains must be consolidated while addressing gaps that continue to constrain transformation, particularly the estimated 30 per cent of Ugandan’s still trapped in subsistence production.
“We have solved the problem of capital. Our people have adopted the Parish Development Model and other wealth creation programmes,” he said.
President Museveni identified dependence on rainfall for agriculture, limited value addition to commodities and inadequate access to markets as the three major constraints that must be addressed to accelerate economic transformation.
He called for increased investment in irrigation to reduce dependence on rain-fed agriculture and urged government to raise domestic revenue from about 14 per cent of GDP to approximately 25 per cent by closing revenue leakages.
“Overall, our focus will continue to be on full monetisation of Uganda’s economy through commercial agriculture driven by irrigation, industrialization for value addition, expanding access to critical services and market access,” President Museveni said.
